 |
|
|
|
Weekly Mortgage update for the week of October 30, 2006 in Vancouver
Rates remain stable with the current five year fixed mortgage rate pegged at 5.25%. This rate is available as a pre-approval as well and can be held for 120 days before the completion of your mortgage transaction.
Last week the Bank of Canada left the Prime lending rate unchanged which effectively leaves all variable rate mortgages, loans and creditlines unchanged. The next scheduled bank of Canada meeting is Dec 2006.
A new mortgage product that is available this week is the 40 Year amortization. This mortgage product is now available through most key lenders and the rate accorded is at the best discounted rate available. It is also available for conventional (75% of the property value or less) and high ratio (75% to 100% of the property value) financing.
100% mortgage financing is now available you can now finance the full purchase price. This is a great option for anyone who has had trouble saving for a down payment and would like to stop paying rent and build equity in a home.
Chance To Tour A Some New Homes This Weekend
The Greater Vancouver Home Builders' Association's sixth annual Fall Parade of New Homes throughout the Lower Mainland ends this Sunday, showcasing 11 builders and 35 show homes and presentation centres at 16 home sites in Burnaby, Langley, Maple Ridge, New Westminster and Surrey. Parade hours are Monday to Thursday 1-5 p.m. and Saturday/Sunday noon to 5 p.m. Admission is free. Included are detached homes, townhomes, and low- and highrise condominiums. Prices range from 9,900 for a lowrise condo in Guildford, to more than 0,000 for a luxurious single-family home in the Panorama area in Surrey.
Parade details - including photos, maps and descriptions - can be found at www.paradeofhomes.ca.
Please feel free to forward this to interested parties.
Thanks you for your continued support.
Brent Irving
Mortgage Consultant
Global Mortgage Corp.
Tel: (604) 764 - 6336
Fax: (604) 541 - 6323
Email: brent@globalmortgagecorp.net |
|
|
